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20110701
20110731
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.gton journal" host: we are back live jon hilsenrath of "the wall street journal." taking a look at this week's economic rebound, that is what the- taking a look at weak economic rebound. here is the headline from "the wall street journal" this morning, "companies bracing for the fall." guest: american companies are operating in a very >> they have already been disappointed by what happened in the first half of the year. i've been talking to companies in the last few days. i'm winnebago industries, a rv company, that was expected to have good spending in the first half. this didn't happen. they are back to deciding whether or not to cut back on that. what they don't want right now is uncertainty. that's what we are getting. >> host: you see the ups chief in todays "financial times" the small and mid sized companies that would be using his are pulling back. they are not sure. >> guest: right. this is largely, i think, because of the uncertainty they face. default, downgrade, you never now how investors are going to react. ironically what we have seen, investors have been calm. but the worry i
on a diet. i'm going to add calories to my excluded food intake." unquote. that was jon stewart. he hit the nail on the head. for sure it's easy to make fun but what the president is trying to do with tax expenditures is no laughing matter. liberals talk about tax expenditures as though they were just getting rid of wasteful spending. first, as a legal matter, tax expenditures are not spending. outlays are checks cut from the treasury department are defined as spending under the congressional budget act. that's what spending is. yet, most tax expenditures only lose revenue and do not include an outlay portion. tax expenditures that only lose revenue contain no spending as defined by the congressional budget act and is scored by the official scorekeepers for congress. the joint committee on taxation and the congressional budget office. and second, as a policy matter twhe comes to tax -- when it comes to tax expenditures, one person's loophole is another person's opportunity to save for college and retirement, finance a home and ties to your -- taoeugts -- tithes to your church. reducing
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